STOCKS moved lower again yesterday amid uncertainty about conflicting signals on the economy and the direction of interest rates.
The Dow Jones average of 30 industrial stocks closed down 15.89 points at 5,549.21. The index of blue chip companies had been off more than 55 points at midday as bond prices continued to stumble, keeping long-term interest rates at their highest level in nearly five months.
Consumer stocks, which are often seen as safer bets in an uncertain market, were lower again, while technology bellweathers fared better for the second straight day, helping mute the Nasdaq market's decline. Declining issues outnumbered advancers by almost four to three on the New York Stock Exchange, with 1,018 up, 1,337 down and 762 unchanged.
The NYSE's composite index lost 1.44 to 345.51. The Standard and Poor's 500-stock index fell 3.22 to 647.24. The Nasdaq composite index fell 6.15 to 1,106.90.